If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    HDFC Car Loan Eligibility Calculator

    An Overview about HDFC Car Loan

    HDFC has attractive car loan offers for new and used cars. It has appealing interest rates, easy repayment tenures and large loan amounts. Customers can avail of three different car loans to suit their needs. You can avail of a loan for:

    • New Car
    • Pre-Owned Car
    • Loan Against Car

    HDFC offers car loans that finance 100% of your cost to purchase the car. Repay the loan over 7 years. You can check if you are eligible for a car loan in a minute and be approved of one in half an hour. Enjoy fixed interest rates and stability of your EMI every month. HDFC aims at making the process fast and hassle-free for their customers. With low down payments, competitive pricing, transparency and deals offered to customers, this car loan stands out as one of the best offers. HDFC ensures that there are no hidden charges in the loan process which makes customers happy with the clarity of the loan amount and applicable fees.

    HDFC also has tie ups with a number of authorised pre-owned car dealers to provide loans to customers seeking used cars. Get fast approvals and doorstep service with this loan. The car should not be older than 7 years for private use, and 6 years for commercial use.
    And even if you don’t have income documents to present, the bank has a car loan that makes it even more easier for you. The HDFC Loan Against Car Loan gives you an interest rate lower than 2% on a personal loan. You can get a maximum loan amount based on the value of the car.

    HDFC Car Loan Eligibility

    The HDFC car loan is offered to salaried individuals as well as self-employed businessmen. Your eligibility for a car loan is based on a number of factors such as your age, income and whether the bank can be sure you are capable of repaying the loan. You are also required to submit documentation that can support your identity, age, address and income claims.

    Apply for Car Loan Online

    New cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,80,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    2 years in business

    Rs. 60,000 for standard cars.

     

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Partnership Firms

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Private Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Public Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

     

    Pre-owned cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    25 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Public Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

    Loan against car

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    65 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

     

    HDFC Car Loan Documentation required

    In order to complete the eligibility process, you need to submit documentation to prove your identity, age, address and income. The following are the documents you will need.

    • ID proof -
      • For salaried individuals and businessmen: Any official document that can be used to identify yourself such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card.
      • For Partnerships: Partnership deed
      • Private Limited Companies: Memorandum and Articles of Association / Certificate of incorporation
    • Age proof - Any official document that can be used to verify your age will suffice such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card, employer certificate or ID, School or College leaving certificate.
    • Address proof - You are required to prove your place of residence through a ration card, driver’s licence, Passport, telephone bill, electricity bill, credit card statement with a copy of your credit card, or an employer’s certificate.
    • Signature proof - The bank also needs to verify your signature as it appears on your passport, driver’s license, credit card statement, banker’s verification, copy of margin money paid to the bank.
    • Income proof
      • For salaried employees, you need to present your latest salary slip with the latest Form 16/ Latest Income tax returns. You can submit the HDFC bank corporate salary account statement for the last 3 months for salaries above Rs. 8,000.
      • For businessmen, you need the latest/previous year’s Income tax returns with the advance tax paid challan or the latest IT assessment order.
      • For Partnership,Private and Public Limited Companies, you need the latest ITR and balance sheet along with Profit and Loss account.
    • In case you are transferring your loan, you need to submit the foreclosure statement from the previous bank.
    • The repayment schedule for 9 months for personal vehicle, and for 12 months for commercial vehicles.

    Factors Affecting HDFC Car Loan Eligibility

    Your HDFC Car Loan Eligibility can be affected by a number of factors. A few have been listed below.

    CIBIL score - CIBIL score is your credit score assigned by the Credit Information Bureau Limited. A high credit score could make your loan process easy and smooth. A low credit score could prove difficult to secure a loan.

    Age - You can get a loan only when you reach the age of 21 years. The maximum age poses a greater obstacle. You must finish the repayment period by the age of 65 years. This is where age can affect your eligibility.
    Income - The loan amount you are seeking to purchase your car may not always be the same as what you are eligible for. Your loan amount depends greatly on how much income you can show. If you end up being short on the eligible income scale, you can add on your immediate family member’s income to compensate the difference.

    Debt - Any debt you already have might affect your eligibility. Your debt-to-income ratio is a very important factor while taking out a major loan. If you already have another loan, or credit card debt, this could significantly reduce your eligible loan amount or total eligibility.

    How CIBIL Score affects HDFC Car Loan Eligibility

    Your CIBIL score is determined by the Credit Information Bureau (India) Limited which has come to play a very crucial role in India’s Financial System. CIBIL collects and stores all information related to your credit history like credit cards, loans, payments, defaults, spending patterns, and so on. A number of things could negatively affect your score like defaulting on your EMIs or minimum due payments. A lower score reduces the amount of loan you are eligible for. In extremely bad situations, you might not be eligible for a loan at all. You will need to build your score back through a long process. So it is important when you take credit from banks and financial institutions to pay your dues on time and play by the rules to ensure a good credit score for when you need it again.

    How to Increase your HDFC Car Loan Eligibility

    If you find yourself not eligible for the loan amount you are looking for, there are ways to change that.

    Pay off other debts - You will need to repay other loans and credit cards in order to increase the amount of loan you might get. Never take a personal loan right when you plan to take a big car loan or home loan in the near future. This could affect your debt-to-income ratio, and this will significantly reduce your loan amount.

    Co-applicants - You can include the income of your spouse, father, mother, son, daughter, brother and sister to increase your eligibility. They will be brought on as co-applicants of the loan even if the car is not in their name.

    Increase your credit score - Find ways to bring your credit score up. You could spend more on your credit card and pay it back ahead of time. CIBIL scores are tricky because even closing a credit card can put a ding in your score simply because your available credit limit is significantly reduced. So do your research and find ways to improve your score.

    HDFC Bank Car Loan Eligibility Calculators

    HDFC Bank offers a quick and easy eligibility calculator on its website. Simply enter your details to find out if you are eligible for a loan. You can also view the exact total cost and EMI of your car loan. You can then decide whether the loan is suitable for you and apply online. Get special discounted rates of interest when you apply for a loan online.

    You can also check your eligibility on BankBazaar.com. Enter your details and view the results of the loans you are eligible for. You can read further about the HDFC Car Loan offered and apply online directly through BankBazaar.com.

    Car Loan Reviews

    • HDFC Bank Car Loan
      "Good loan services"
      0.5 5.0/5 "Blown Away!"
      Probably they are charging 18% as a interest rate, I have purchased the car loan by last year. The loan amount was more than Rs. 3 lakhs. There is some processing fee. The dealer has done all the documentation process. I have got the loan in a couple of days. I have been paying the EMI of Rs. 6100. Total tenure period of the loan is 7 years.
      Was this review helpful? 1
      , guwahati
      Reviewed on Dec 12, 2018
    • HDFC Bank Car Loan
      "Interest rate should be economical"
      0.5 5.0/5 "Blown Away!"
      I got the auto loan from HDFC for Rs 2 lakhs again I have top up the car loan for Rs. 2 lakhs but I felt interest rate is not standard its quite high compared as others, the process was quick they have disbursed the amount to the dealer they delivered my car.
      Was this review helpful? 1
      , mysore
      Reviewed on Dec 10, 2018
    • HDFC Bank Car Loan
      "Excellent card"
      0.5 5.0/5 "Blown Away!"
      I have been holding HDFC credit card, there service is too good, they have charged me annual fee or not i have no idea, as i have not check that and i am happy with my credit limit they have given me up to 5,81,000 it is sufficient for me , they provide good offers in maximum products.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 08, 2018
    • HDFC Bank Car Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      Even for the car loan HDFC bank is good, while I was buying Alto car, they have approved partial amt, the process was good. I approached the bank through dealer, the process was simpler but long back I taken the loan, interest rate and charges was okay for me.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 06, 2018
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan almost four or five years back and the experience has been quite good. The loan amount has been sufficient and the interest rate with them has been a bit high when compared with the market rate but it could be manageable. There has not been any sort of additional charges which has been made by them.
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 06, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My car loan experience was good with HDFC bank, the process was smooth and i received my loan amount on time. Loan amount was sufficient and the rate of interest was nominal for this loan. Customer service was good and the tenure period for this loan is 3 years.
      Was this review helpful? 2
      , mumbai
      Reviewed on Dec 05, 2018
    • HDFC Bank Car Loan
      "Car loan fulfill my dream"
      0.5 4.0/5 "Great!"
      In 2016 i have purchased the car loan with HDFC. I bought the car loan around Rs. 7 lakhs, Every month o'm paying the EMI of Rs. 9300. I have chosen the tenure period of 7 years and I'm planning to pre-close the loan and i have to check that option is available or not. Car loan process was very good.
      Was this review helpful? 1
      , rajahmundry
      Reviewed on Dec 05, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I took a car loan from the HDFC BANK. The agent came and collected documents got the loan with in few days.The loan amount was satisfactory. The whole process was smooth. The interest rate was normal when I took the loan. The tenure period is 5 year and i am happy with services .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 05, 2018
    • HDFC Bank Car Loan
      "Hassle free process"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank is good overall in the car loan services. The rate of interest and processing charges are normal. The customer support and response was on time and the loan was also processed on time. The after loan services are good too. No hassles in all.
      Was this review helpful? 0
      , kolkata
      Reviewed on Dec 05, 2018
    • HDFC Bank Car Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      My car loan is with HDFC Bank and as always the process was smooth and easy. I got a good deal on the interest rate and charges. The after loan services are also good. The documentation was done on time and I got the loan as needed. Satisfactory overall.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 05, 2018
    • HDFC Bank Car Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      The process is easy to get the car loan with the HDFC BANK where i have got the loan amount within 2-3 hours. The loan amount is good they have given the amount which is sufficient also the rate of interest is of 8.8-8.9% which is nominal. Duration is for 5 years also the customer service is responsive.
      Was this review helpful? 1
      , mumbai
      Reviewed on Dec 04, 2018
    • HDFC Bank Car Loan
      "Best Service"
      0.5 4.5/5 "Excellent!"
      My car loan experience was good with HDFC bank, the process was smooth and i received my loan amount on time. Loan amount was sufficient and the rate of interest was nominal for this loan. Customer service was good and the tenure period for this loan is 3 years.
      Was this review helpful? 1
      , pune
      Reviewed on Dec 01, 2018
    • HDFC Bank Car Loan
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with HDFC Bank and it was taken 2 years back. It is on going and the loan duration is 48 months. I have purchased a Hyundai car. The loan process was faster and immediate. I am happy with the interest and charges. They do have option for foreclosure.
      Was this review helpful? 4
      , noida
      Reviewed on Nov 29, 2018
    • HDFC Bank Car Loan
      "Good In Service"
      0.5 5.0/5 "Blown Away!"
      At the time of applying for a car loan with HDFC bank things were easy and good. Application was processed on time. The only thing i want HDFC to take care is their control options given on the toll free number. Whenever the toll free number is dialed i find it hard to reach to the option where i will be connected to the customer support executive The customer support option is not available on the front end itself. Apart from this HDFC services are good.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 29, 2018
    • HDFC Bank Car Loan
      "Good Card to use"
      0.5 3.0/5 "Satisfactory"
      I have my credit card approved with HDFC bank and the experience was good, i received my credit card within 7-8 days. Rs 1000 has to be paid as an annual fee. I use this credit card for multipurpose but this credit card is not accepted on all the places. Credit limit is sufficient in this credit card.
      Was this review helpful? 2
      , chennai
      Reviewed on Nov 29, 2018
    • HDFC Bank Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My car loan experience was good with HDFC bank, the loan amount was based on my requirement and the rate of interest was nominal when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 5 years.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Nov 29, 2018
    • HDFC Bank Car Loan
      "Average"
      0.5 4.0/5 "Great!"
      My credit card was taken with HDFC BANK , i am holding this card for past 3month . The process was good but the card was delayed it took week to reach . There is joining fee at the time of getting the card but there is no waive off option . Benefits were good reward point and cash back .
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Nov 28, 2018
    • HDFC Bank Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I have taken the card loan with the HDFC BANK from past two years where the loan amount is sufficient added on that the They have provided the 90% of the amount. The rate of interest is with the best price. The process is very simple to get the loan.
      Was this review helpful? 3
      , new delhi
      Reviewed on Nov 28, 2018
    • HDFC Bank Car Loan
      "Easy to approach"
      0.5 5.0/5 "Blown Away!"
      I purchase Maruthi Alto K10 car, they fulfill my requirement. They approved the entire loan amount, on time they helped to deliver my car. The interest rate is also best, they have auto debit my monthly due amount. I am completely satisfied with the bank.
      Was this review helpful? 3
      , chennai
      Reviewed on Nov 26, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my car loan with HDFC BANK recently , they have given me loan amount up to 7,60,000 it was sufficient for me according to my requirement and the tenure period they have given me up to 3 years, and the rate of interest they have charged me up to 9% and processing fee they have taken up to 13,000 it was bit high for me and overall service is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 25, 2018
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